Heidi D. Lewis - Mar 17, 2023 Form 4 Insider Report for Target Hospitality Corp. (TH)

Role: EVP, General Counsel & Sec
Signature: /s/ Heidi D. Lewis
Stock symbol: TH
Transactions as of: Mar 17, 2023
Transactions value $: -$48,823
Form type: 4
Date filed: 3/20/2023, 04:45 PM
Previous filing: Mar 7, 2023
Next filing: May 22, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TH	Common Stock, par value $0.0001 per share	Options Exercise	$89.5K	+19.8K	+25.55%	$4.51	97.5K	Mar 17, 2023	Direct
transaction	TH	Common Stock, par value $0.0001 per share	Tax liability	-$138K	-8.49K	-8.75%	$16.30	88.5K	Mar 17, 2023	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	TH	Employee Stock Option (right to buy)	Options Exercise	$0	-19.8K	-50%	$0.00	19.8K	Mar 17, 2023	Common Stock	19.8K	$4.51	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The options reported in this footnote 1 represent the right upon vesting to buy shares of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), pursuant to the terms and conditions of the Target Hospitality Corp. 2019 Incentive Award Plan (as amended, the "Plan") and the Nonqualified Stock Option Award Agreement entered into between the Issuer and the Reporting Person as of March 4, 2020 (the "2020 Option Award Agreement"). The options reported in this footnote 1 vest in equal installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the Plan and 2020 Option Award Agreement.

Content

The options reported in this footnote 1 represent the right upon vesting to buy shares of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), pursuant to the terms and conditions of the Target Hospitality Corp. 2019 Incentive Award Plan (as amended, the "Plan") and the Nonqualified Stock Option Award Agreement entered into between the Issuer and the Reporting Person as of March 4, 2020 (the "2020 Option Award Agreement"). The options reported in this footnote 1 vest in equal installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the Plan and 2020 Option Award Agreement.